01-01
.
RESOLUTION NO. 01-01
A RESOLUTION OF THE CITY OF CLEARWATER, FLORIDA
ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN
PROJECT COSTS INCURRED WITH PROCEEDS OF FUTURE
TAX-EXEMPT FINANCING; PROVIDING CERTAIN OTHER
MATTERS IN CONNECTION THEREWITH; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Clearwater, Florida (the "Issuer") has
determined that the need exists to construct a baseball spring training facility comprised of Carpenter
Field, at which is located four major league training fields, a practice infield, covered batting tunnels,
an outdoor bullpen, clubhouse building and a workout/exercise building, and a 7000 seat new
baseball stadium to replace the existing Jack Russell Stadium (collectively, the "Project");
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
. OF CLEARWATER, FLORIDA THAT:
SECTION 1. AUTHORITY. This Resolution (hereinafter called the "Resolution") is
adopted pursuant to the provisions of the Florida Constitution, Chapter 166, Florida Statutes, and
other applicable provisions of law.
SECTION 2. DECLARATION OF INTENT. The Issuer hereby expresses its intention to
be reimbursed from proceeds of a future tax-exempt financing for capital expenditures to be paid by
the Issuer in connection with the construction of the Project. Pending reimbursement, the Issuer
expects to use funds on deposit in its general funds and other funds legally available to pay a portion
of the cost of the Project. It is not reasonably expected that the total amount of debt to be incurred
by the Issuer to reimburse itself for expenditures paid with respect to the Project will exceed
$14,000,000. This Resolution is intended to constitute a "declaration of official intent" within the
. meaning of Section 1.150-2 of the Income Tax Regulations.
, .-/
.
.
.
SECTION 3. SEVERABILITY. If any one or more of the provisions of this Resolution shall
for any reason be held illegal or invalid, such illegality or invalidity shall not affect any other
provision of this Resolution, but this Resolution shall be construed and enforced as if such illegal
or invalid provision had not been contained therein.
SECTION 4. REPEALING CLAUSE. All resolutions or orders and parts thereof in conflict
herewith to the extent of such conflicts, are hereby superseded and repealed.
SECTION 5. EFFECTIVE DATE. This resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED this
18th day of January, 2001.
~gst f^
ayor-Commissioner
Approved as to form:
Attest:
JJt
Pamela K. Akin
City Attorney
2